International Fund


Overall Morningstar™ rating out of 335
Foreign Large Growth funds as of 2-28-2017 (derived from a weighted average of the fund's three-, five-, and ten-year risk adjusted return measure, if applicable).

Characteristics

  • Long-term growth focus
  • Country-specific macro analysis
  • Not benchmark-driven
  • Utilizes Buffalo Funds' established investment philosophy

Strategy

In establishing the universe for the Fund, the investment team identifies a broad mix of foreign companies that are expected to benefit from longer-term industry, technological, global or other trends. The managers then use a bottom-up approach to select securities based on fundamental analysis of industries and the economic cycle, company-specific analysis such as product cycles and quality of management, and rigorous valuation analysis. In making portfolio selections for the Fund, the managers will also consider the economic, political and market conditions of the various countries in which the Fund may invest.

Investment Team

Nicole Kornitzer  

Nicole Kornitzer, CFA

Portfolio Manager


  • Investment professional since 2000
  • With KCM from 2000-2002, re-joined in 2004
  • B.A. - University of Pennsylvania
  • M.A. - Columbia University
  • M.B.A. - INSEAD
William J. Kornitzer, III  

William J. Kornitzer, III, CFA

Portfolio Manager


  • Investment professional since 1992
  • With KCM from 1997 - 2000, re-joined in 2004
  • Prior experience - USAA Investment Management Company
  • B.S. - Virginia Tech.
  • M.B.A. - Drexel University

 

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar RatingTM for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. The Buffalo International Fund received 4 stars among 335 for the three-year and 4 stars among 284 Foreign Large Growth funds for the five-year period ending 2/28/2017.

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